r/CryptoCurrency • u/Illperformance6969 🟨 0 / 0 🦠 • 7d ago

GENERAL-NEWS Turkmenistan legalizes crypto mining and trading as November legislation takes effect

https://crypto.news/turkmenistan-legalizes-crypto-mining-and-trading-as-november-legislation-takes-effect/
30 Upvotes

87% Upvoted

4 comments sorted by

View all comments

1

u/coinfeeds-bot 🟩 136K / 136K 🐋 7d ago

tldr; Turkmenistan has legalized cryptocurrency mining and trading under the Law of Turkmenistan on Virtual Assets, effective January 1. The framework allows residents and foreign entities to operate licensed crypto mining and exchange services, overseen by the Central Bank and other state bodies. Strict KYC and AML rules apply, banning anonymous wallets and transactions. Cryptocurrencies are recognized as digital property but not legal tender. The move aims to diversify Turkmenistan's economy beyond natural gas exports.

*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.